Watches
A year after a 39% US tariff hit the industry, the monthly figures are back in growth.
The tariff behind the numbers
In August 2025 the US administration imposed a 39% tariff on many Swiss goods, and watch shipments to the US fell sharply after brands had rushed stock across the Atlantic beforehand. September 2025 was therefore a weak month, which flatters this year's comparison: the FH said the 86% rise in US exports was mainly a favourable base effect. France rose 128%, partly because it served as a logistics hub for brands after lower US tariffs on EU imports, blue News reported.
Where else watches went
Exports to the European Union rose 15.5%, Japan 12.3% and Hong Kong 3.0%. China fell 14.2%, which the FH also attributed to the previous year's figures. September was the third month of growth in a row after rises of 9.6% in July and 9.1% in August, and the year to date stood at CHF 19.5 billion, up 2.7%.
Trade politics, not taste, moved the September figures.
Cheaper watches led the rise
Watches with an export price under CHF 200 rose 30% and those between CHF 200 and 500 rose 52%, while watches of CHF 3,000 and over rose 9.9%, according to the FH figures reported by blue News.
What it means for owners
New-watch export figures do not set the price of a pre-owned or vintage watch, which depends on the model, condition, originality and papers. If you are thinking of selling a Rolex, Patek Philippe or another Swiss watch, keep the box and papers together and send us photographs for a free valuation.
Sell to Mozeris
Found something, or inherited a piece? We buy by post and in person.
Free insured collection from your door, or post it to us. Insured to £10,000, paid the same day you accept our offer, and nothing is sold until you say yes.
Sell watches by postSell jewellery by post
5.0on Google from 141 reviewsMore from Mozeris News
All news
MarketsF.P. Journe at Auction and the Swiss Watch RecoveryAn independent Geneva maker producing around a thousand watches a year has become one of the strongest names in the saleroom.19 October 2026 3 min read
WatchesPhillips Geneva XXIV: a Steel Patek 1436, a Rolex 'Stelline' and a Cartier Portico Lead 221 LotsTwo days, 221 lots and a run of rare vintage complications at the Hotel President Wilson.28 October 2026 2 min read
WatchesPhillips Hong Kong Watch Auction XXIII: Independent Makers Take Centre StageSmall workshops with tiny outputs now share the top of a major catalogue with the most famous names in watchmaking.22 October 2026 2 min read
Auctions & RecordsChristie's Marks 40 Years in Asia With Two Hong Kong Watch SalesMore than 300 watches, a single-owner collection and a pair of Patek Philippe grand complications shown together for the first time.17 October 2026 3 min read
